All Forum Posts by: Mitch Coluzzi

@Krisha Schauf give Jeff Egge at Wilson & Egge in Waukee. We have used them to review our processes and in other litigation. I know he handles for a handful of local landlords.

Free! Fun! Fantastically helpful!

RSVP and learn more at Meetup.com

Join our Facebook group !

We'll be at Wobbly Boots Roadhouse. It is quiet enough to have a host-guided discussion, yet vibrant enough to relax. You'll be able to order your own beverages AND food here too! (Don't forget to pick up your tab!)

Learn about all things real estate. Bring your questions and get some answers. You'll find that the group is very open and willing to share tips, tricks, and experiences. Come check it out! It's free to attend. Everybody's welcome!

Can't make it this month? We meet at the same time same place the third Thursday of every month!

Schedule

5-6pm - Small Talk Series where we will host a structured discussion about a specific topic.

6-8pm - Open format networking

Free! Fun! Fantastically helpful!

RSVP and learn more at Meetup.com

Join our Facebook group !

We'll be at Wobbly Boots Roadhouse. It is quiet enough to have a host-guided discussion, yet vibrant enough to relax. You'll be able to order your own beverages AND food here too! (Don't forget to pick up your tab!)

Learn about all things real estate. Bring your questions and get some answers. You'll find that the group is very open and willing to share tips, tricks, and experiences. Come check it out! It's free to attend. Everybody's welcome!

Can't make it this month? We meet at the same time same place the third Thursday of every month!

Schedule

5-6pm - Small Talk Series where we will host a structured discussion about a specific topic.

6-8pm - Open format networking

RSVP and learn more at Meetup.com

Join our Facebook group here!

We'll be at Wobbly Boots Roadhouse in the back room. It is quiet enough to have a host-guided discussion, yet vibrant enough to relax. You'll be able to order your own beverages AND food here too! (Don't forget to pick up your tab!)

Learn about all things real estate. Bring your questions and get some answers. You'll find that the group is very open and willing to share tips, tricks, and experiences. Come check it out! It's free to attend. Everybody's welcome!

Can't make it this month? We meet at the same time same place every third Thursday of every month!

Schedule

5-6pm - Small Talk Series where we will host a structured discussion about a specific topic.

6-8pm - Open format networking

@Darson Grantham

This is one area I'm not versed well enough within to voice an opinion. Sorry guys! I'll try to take a gander but outside of my scope right now hehe

RSVP and learn more at Meetup.com

Join our Facebook group here!

We'll be at Wobbly Boots Roadhouse in the back room. It is quiet enough to have a host-guided discussion, yet vibrant enough to relax. You'll be able to order your own beverages AND food here too! (Don't forget to pick up your tab!)

Learn about all things real estate. Bring your questions and get some answers. You'll find that the group is very open and willing to share tips, tricks, and experiences. Come check it out! It's free to attend. Everybody's welcome!

Can't make it this month? We meet at the same time same place every third Thursday of every month!

Schedule

5-6pm - Small Talk Series where we will host a structured discussion about a specific topic.

6-8pm - Open format networking

@Chris Thomas in our case, we had the same room layout. Think you're justifiable in varying rates by room / amentity though. If room has a private bathroom or is super large, probably worth a few more bucks.

@Chris Thomas following college, we held as rental for a few years and then eventually sold it. Long distance management is not something I encourage.

I covered utilities as part of the rent. Rate was just proportionally higher. Some months it came out in my favor, others in the other occupants.

If you're living there, I would encourage you to do month to month initially. If personality just doesnt fit, you don't want to continue living together. It gets awkward in a hurry... I don't mind difficult conversations as a general rule of thumb, but you are literally mixing business and home with this model. Minimize the rub points, and have clear end dates for those relationships.

Also, college folks will pay significantly more for a month to month, to avoid summer expenses... to the degree you may be able to net more than with a 12 month lease, plus have the house to yourself in the summer.

@Chris Thomas sorry to hear about your mother, that is a tough time. My wife lost her mother while we were in college, can be a tough challenge my friend...

I house-hacked my way through college. It was relatively straight forward to be honest. I owned a 4 bed 3 ba house and had 3 roommates (4 for a little while). My wife (girlfriend then) lived with me and paid rent, along with a buddy from highschool then a "for lease" room. That room varied several times... each time we leased it, got a little smarter about who we leased to. Each room I charged the same rent rate for and rent covered all utilities.

Kitchen: Fridge space was a little bit of a challenge, but it was more-so cleaning it out... we pooled food (split the bill) but all of us were the same eating style and one of our roommates directly benefited from us cooking his meals. Things like trash-bags, cleaning supplies, spices, toilet paper we split expenses on. Pots, pans, utensils, etc I purchased. Naturally folks brought some of their own stuff.

House cleaning: we had a chore board. Every week duties rotated but it was more of a "just do it" system. In retrospect, hiring a weekly cleaning agency would of been a perk we all benefitted from.

Rent rate: between mortgage, expenses, etc I was living mortgage free with a slight net after utilities. It's been a number of years, so I don't remember how much but it felt like a lot in college.

Lease: have one... month-to-month is my recommendation in case the living arrangements just aren't a mutual fit. Get prepared to have those conversations... You will be partial roommate and partial caretaker. When you live together, friendships form and it's hard to keep it "purely business."

Common Area: set ground rules for living room, patio, parking... be very clear about guests (stayovers), guest consistency before they become a tenant, and pets.

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As a seasoned/experienced investor now, there are so many things I would do different but I can say without a doubt... house hacking was both rewarding in terms of dollars and experience. It let me forge great relationships and it awarded a lot of transparency toward the inner workings of a rental from a controlled environment.

@Joe McGovern welcome to the world of REI buddy. It's an exciting place! There's a ton of great resources around (BP being one of the most accessible). Check out local Meetups and REIA groups to see what the best fit for you is; but absolutely get out there and meet folks doing what to want to do... In-the-flesh meetings will be key, virtual resources only provide so much umph!

I not familiar with Ames groups, but certain there's great resources available out there. Locally to Des Moines, we host a monthly meetup at Wobbly Boots (formerly at Ingersoll Tap) on the third Thursday about REI and another on the first Thursday at Feliz & Oscars focused on Financial Independence. Both are totally free, no salespitches, etc... just good old fashion networking accessible to everyone.

Hope to see you there!